“In a global environment that remains uncertain, we will not relax our vigilance, but we are confident that the complementarity of our houses, our geographic footprint, the diversity of our customer base and the strengths of an integrated luxury group will enable us, this year again, to do much better than our markets.”

Michael Kors Holdings’ acquisition this week of Versace for $2.12bn (£1.61bn) will accelerate the Italian fashion house’s international expansion and signals the US business’s intention to take on global brand houses, industry experts have said.

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